Pros: some of the good people haven't left yet
Cons: extremely poor management. poor pay. no incentives. toxic culture.
After a top level management change in 2010, the company began a meteoric decline. More hours. No company matching to the 401k. Benefits were cut. Several new VP's who were hired from the CEO's former company don't contribute to productivity, but rather impede same. The company recently moved to a shiny new building, yet somehow we wound-up with 30% – more... less space per person. Most of our tech (R&D, IT, etc) interns left when their wages were cut to the legal minimum, The cronyism at the upper levels is palpable: we got 1% raises and they got 10's of thousands of shares of stock options (long time employees got an email telling us we were welcome to buy as much stock as we wanted - as long as we were willing to pay full price).
It's hard to suck all the fun out of a guitar company, but Fender has managed to do so. Don't walk, RUN screaming from this place! – less